CHARLESTON, S.C.--(BUSINESS WIRE)--Aeterna Zentaris Inc. (NASDAQ: AEZS; TSX: AEZ) (the “Company”) today
reconfirmed its commitment to LHRH-receptor targeted therapy and its
expectation that the pivotal, phase 3 trial for Zoptrex™ (zoptarelin
doxorubicin) in women with advanced, recurrent endometrial cancer, is
expected to be completed in the third quarter of 2016. During the 2016
Annual Meeting of the American Society of Clinical Oncologists (“ASCO”),
the Company also discussed its plans to develop Zoptrex™ for additional
indications, based upon achieving a positive outcome in the current
clinical program.

Zoptrex™ (zoptarelin doxorubicin), a novel synthetic peptide carrier
linked to doxorubicin as a New Chemical Entity (NCE), is the Company’s
lead oncology compound. Zoptrex™ is currently in a fully-enrolled Phase
3 clinical trial in endometrial cancer. The Company expects to complete
the Phase 3 clinical trial in the third quarter of 2016 and, if the
results of the trial warrant doing so, to file a new drug application
for Zoptrex™ in the first half of 2017.

Commenting on the significance of Zoptrex™ to oncologists and their
patients, Dr. Richard Sachse, the Company’s Chief Scientific Officer,
explained, “Zoptrex™ is the first targeted oncological therapy using a
peptide as the targeting agent and, therefore, it represents potentially
a new tool in the treatment of tumors that overexpress the LHRH
receptor. The design of the compound allows for the specific binding and
selective uptake of the cytotoxic conjugate by LHRH receptor-positive
tumors, typically found in gynecological cancers, prostate cancer and
some forms of breast cancer. Potential benefits of this targeted
approach may include enhanced efficacy and a more favorable safety
profile with lower incidence and severity of adverse events, as compared
to doxorubicin. If Zoptrex™ is approved as a therapy for endometrial
cancer, we intend to develop it for these additional indications. In
addition, based on the results of Phase 2 studies, we believe that
Zoptrex™ holds promise to prove its efficacy for the treatment of
ovarian and prostate cancer.”

During the ASCO Annual Meeting, the Company provided an update regarding
its progress with Zoptrex™ during one-on-one meetings with oncological
key opinion leaders. Dr. Sachse described his interactions with ASCO
attendees as promising, stating as follows: “I’m pleased and gratified
by the continuing expressions of support for our work on Zoptrex™. The
oncologists with whom we met were pleased to learn of our progress
toward the completion of our Phase 3 clinical trial and seemed to be as
excited as we are about the contribution that our new targeted oncology
therapy could make to the treatment of one of the most severe forms of
cancer.”

About Aeterna Zentaris Inc.

Aeterna Zentaris is a specialty biopharmaceutical company engaged in
developing and commercializing novel treatments in oncology,
endocrinology and women’s health. We are engaged in drug development
activities and in the promotion of products for others. We are now
conducting Phase 3 studies of two internally developed compounds. The
focus of our business development efforts is the acquisition of licenses
to products that are relevant to our therapeutic areas of focus. We also
intend to license out certain commercial rights of internally developed
products to licensees in territories where such out-licensing would
enable us to ensure development, registration and launch of our product
candidates. Our goal is to become a growth-oriented specialty
biopharmaceutical company by pursuing successful development and
commercialization of our product portfolio, achieving successful
commercial presence and growth, while consistently delivering value to
our shareholders, employees and the medical providers and patients who
will benefit from our products. For more information, visit www.aezsinc.com.

Forward-Looking Statements

This press release contains forward-looking statements made pursuant to
the safe harbor provisions of the US Securities Litigation Reform Act of
1995. Forward-looking statements may include, but are not limited to
statements preceded by, followed by, or that include the words
“expects,” “believes,” “intends,” “anticipates,” and similar terms that
relate to future events, performance, or our results. Forward-looking
statements involve known and unknown risks and uncertainties that could
cause the Company's actual results to differ materially from those in
the forward looking statements. Such risks and uncertainties include,
among others, the availability of funds and resources to pursue R&D
projects and clinical trials, the successful and timely completion of
clinical studies, the risk that safety and efficacy data from any of our
Phase 3 trials may not coincide with the data analyses from previously
reported Phase 1 and/or Phase 2 clinical trials, the rejection or
non-acceptance of any new drug application by one or more regulatory
authorities and, more generally, uncertainties related to the regulatory
process, the ability of the Company to efficiently commercialize one or
more of its products or product candidates, the degree of market
acceptance once our products are approved for commercialization, the
ability of the Company to take advantage of business opportunities in
the pharmaceutical industry, uncertainties related to the regulatory
process, the ability to protect our intellectual property, the potential
of liability arising from shareholder lawsuits and general changes in
economic conditions. Investors should consult the Company's quarterly
and annual filings with the Canadian and US securities commissions for
additional information on risks and uncertainties relating to
forward-looking statements. Investors are cautioned not to place undue
reliance on these forward-looking statements. The Company does not
undertake to update these forward-looking statements. We disclaim any
obligation to update any such factors or to publicly announce the result
of any revisions to any of the forward-looking statements contained
herein to reflect future results, events or developments, unless
required to do so by a governmental authority or by applicable law.